Having Only One Person Authorized to Both Prepare and Sign

question 7

Multiple Choice

Having only one person authorized to both prepare and sign checks is a violation of what internal control procedure?

• A)Segregation of duties
• B)Independent review and appraisal
• C)Independent verifications
• D)Proper authorizations

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Definitions:

Government Sector

The part of the economy that is controlled by the state, including all government agencies and entities at the federal, state, and local levels.

Consumption Sector

A segment of the economy that involves individuals and households that use goods and services for personal needs rather than for manufacturing or resale.

Direct

Direct refers to an immediate or straightforward method or approach, without involving intermediaries or detours.

Progressive

Supporting or advocating for gradual social, political, or economic reform through governmental action.